CUMBERLAND CITY, TN (CLARKSVILLE NOW) – Tennessee officials and Daejin Advanced Materials USA announced Tuesday that the company will invest $10.2 million to establish its second U.S. manufacturing and processing facility in Cumberland City, just southwest of Clarksville.
Located in a portion of the Stewart-Houston Industrial Park, a Select Tennessee Certified Site, Daejin Advanced Materials will be in close proximity to its electric vehicle battery customers and partners in the Southeastern U.S. The project will create 83 new jobs in Houston and Stewart counties over the next five years, according to a news release from Tennessee Department of Economic and Community Development.
“Our skilled workforce and strong business climate make Tennessee the ideal state for companies to thrive. I commend Daejin Advanced Materials for its commitment to invest and create jobs in Houston and Stewart counties so that Tennesseans can thrive,” said Gov. Bill Lee.
With an increase in consumer demand and newly awarded contracts with Ultium Cells’ Spring Hill manufacturing plant, Daejin’ Tennessee facility will allow the company to continue manufacturing process trays for electric vehicle batteries. In addition, Daejin will expand its production to include a new line for plastic injection, plastic extrusion, vacuum forming and assembly, the release said.
The TNECD explained that since 2018, they have supported 145 economic development projects in the Northern Middle Tennessee region, resulting in approximately 42,000 job commitments and nearly $8 billion in capital investment.
Founded in 2019 and headquartered in Troy, Michigan, Daejin supports research and development and specializes in the manufacturing of polymers for the electric vehicle battery industry. The company is a subsidiary of Korean-based Daejin Advanced Materials, which employs roughly 1,000 people across its operations in Asia, Europe, and the U.S.
Sungjoon Yoo, CEO of Daejin, said the company is looking forward to what’s ahead.
“We are very excited to have our second U.S. plant in Cumberland City, Tennessee. This plant will be an important operation, which will expand our business in North America. The local community and the State of Tennessee have been extremely supportive, and we strongly believe that our company and the community can work together and grow together in the years to come.”